revenue management

Meet new revenue recognition standards with ease.

Workday Revenue Management covers the complete contract-to-cash lifecycle, giving you flexible ways to automatically manage contracts, billing, and accounting all from a single system. Plus, built-in support for ASC 605, ASC 606, and IFRS 15 enables smooth migration and dual reporting. 

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Distinguish billing from revenue recognition and drill down to their respective drivers.

Get 360-degree view of deferred revenue through prebuilt, configurable reports.

See the breakdown of different revenue categories and understand how that impacts your topline.

Get a complete view of your customers and contracts.

With Workday, you gain a full view of your customer interactions and entitlements in one place. Which means you can minimize time spent reconciling and bring greater value to your organization.

  • Gain insight into the full contract lifecycle, from sales and revenue recognition to billing and financial statements. 
  • Integrate with Salesforce and other CRMs to gain visibility and control across the quote-to-cash process. 
  • Support multielement contracts and integrate easily with other contract management systems.
  • Ensure completion of tasks with a configurable contract checklist.
  • Simplify control and compliance by tracking all contract changes at the line level.
  • Automatically track contract renewal terms and extract insights from renewal reporting.

Enable flexible revenue recognition.

With robust scenario modeling, flexible dual reporting, and a full audit trail, you can master the transition to ASC 606 and IFRS 15 with confidence.

  • Model revenue recognition scenarios using our unique scenario tool to make more-informed decisions.
  • Facilitate dual reporting and easy auditing with our unmatched alternate contract feature.
  • Support multielement revenue allocation and accounting adjustments based on various methods across linked contracts.
  • Easily capitalize and amortize contract acquisition costs, like sales commissions and more.

Accelerate cash flow and reduce bad debt.

Workday provides robust billing and predictive AR collection to effectively manage receivables.

  • Support a variety of billing arrangements, including time and materials, fixed fee, prepaid, usage-based, subscription, milestone, and more.
  • Automatically generate configurable billing schedules and installments when creating customer contracts. 
  • Track order fulfillment and automate revenue recognition. 
  • Gain insight into accounts receivable, including past activity, overdue balances, and aging history from a centralized dashboard. 
  • Support your global enterprise while meeting unique local requirements.

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